MGIC Investment (NYSE:MTG) Releases Earnings Results, Beats Expectations By $0.05 EPS

MGIC Investment (NYSE:MTG) issued its quarterly earnings results on Tuesday. The insurance provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05, Bloomberg Earnings reports. The business had revenue of $318.38 million during the quarter, compared to analyst estimates of $299.00 million. MGIC Investment had a net margin of 56.84% and a return on equity of 17.55%. MGIC Investment’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share.

Shares of MGIC Investment stock opened at $14.16 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $4.87 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.62 and a beta of 1.52. The firm has a 50 day simple moving average of $12.95 and a 200 day simple moving average of $13.36. MGIC Investment has a fifty-two week low of $9.41 and a fifty-two week high of $14.97.

In related news, Director Daniel A. Arrigoni purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $12.29 per share, with a total value of $61,450.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.81% of the company’s stock.

A number of brokerages recently weighed in on MTG. ValuEngine raised shares of MGIC Investment from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 4th. Zacks Investment Research raised shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Friday, October 11th. Finally, B. Riley reissued a “buy” rating on shares of MGIC Investment in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.33.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.

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Earnings History for MGIC Investment (NYSE:MTG)

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